New Markets
New Markets: an exploration into the changing nature of business environments, informal barriers and emerging markets in the post-Soviet region
Project Description
Investment risks in post-Soviet republics During the first two decades of the 21st century, many post-Soviet republics introduced economic reforms to attract foreign investment. However, investors still face risks from high rates of corruption and the role of local oligarchs. The EU-funded NEW MARKETS project will detect invisible and non-official risks that could harm foreign business activity. The project will compare the development of economic reforms in two groups of countries: those which adopted full liberalisation earlier (Estonia, Georgia and Kyrgyzstan) and those that only recently opened their markets (Belarus, Kazakhstan and Uzbekistan). It will also conduct an empirical evaluation of policies aiming to ameliorating the business environment in the above countries.
Project Objective
The past ten years have seen several changes in post-USSR business environments. From Kazakhstan to Belarus, and eventually Uzbekistan in 2016, a growing number of post-USSR republics have gradually begun economic reforms to allow foreign businesses to operate in their territory. These declared intentions, however, are sometimes contrasted by non-official, or informal, barriers into domestic and regional markets. Indeed, from rampant corruption to the necessity to get protection from local oligarchs, entering post-Soviet markets involves several risks. New Markets addresses the current limited existence of clear instructions that could enable new, and existing economic actors to gain an overview into the hidden risks associated with business activities in the post-Soviet region. Our research follows a three stage approach: First, we will conduct a review of policy measures adopted in the past 10 years (2008-2018) to liberalize the markets in our target countries. Our analysis will compare three countries that have fully opened to foreign investors already in the early 2000 – Estonia, Georgia and Kyrgyzstan - with three countries that have only recently shown a more cooperative attitude - Belarus, Kazakhstan, Uzbekistan. We will survey the major mechanisms, and policies, adopted in these six countries to evaluate how they have ended up affecting the business environment. Second, we will conduct an empirical evaluation of the measures adopted for improving the business climate in the target countries. This will be done through a national survey of core business actors in each country Third, building upon results of the second stage, we will map challenges and opportunities in the region comparing macro and micro perspectives and testing government-led decisions against their results.
Programme(s)
H2020-EU.1.3.3. - Stimulating innovation by means of cross-fertilisation of knowledge
Topic(s)
MSCA-RISE-2018 - Research and Innovation Staff Exchange
Call for Proposal
H2020-MSCA-RISE-2018
Funding Scheme
MSCA-RISE - Marie Skłodowska-Curie Research and Innovation Staff Exchange (RISE)
Coordinator
DUBLIN CITY UNIVERSITY
Address:
Glasnevin 9 Dublin
🇮🇪 Ireland
Activity Type:
Higher or Secondary Education Establishments
EU Contribution
€ 220800
Participants
The National Institute of Oriental Languages and Civilizations (INALCO)
Address:
65 rue des Grands Moulins 75214 Paris Cedex 13
🇫🇷 France
Activity Type:
Higher or Secondary Education Establishments
EU Contribution
€ 193200
HELSINGIN YLIOPISTO
Address:
Yliopistonkatu 3 00014 Helsingin Yliopisto
🇫🇮 Finland
Activity Type:
Higher or Secondary Education Establishments
EU Contribution
€ 193200
TALLINNA TEHNIKAULIKOOL
Address:
Ehitajate Tee 5 12616 Tallinn
🇪🇪 Estonia
Activity Type:
Higher or Secondary Education Establishments
EU Contribution
€ 193200
LATVIJAS UNIVERSITATE
Address:
Rainis Boulevard 19 1586 Riga
🇱🇻 Latvia
Activity Type:
Higher or Secondary Education Establishments
EU Contribution
€ 193200
Economic Policy and Research Center
Address:
Vazha-Pshavela Avenue 26 0133 Tbilisi
🇬🇪 Georgia
Activity Type:
Other
EU Contribution
€ 110400
Partners
SIAR RESEARCH AND CONSULTING LLC
Address:
147 Moskovska Street Office 1 720000 Bishkek
🇰🇬 Kyrgyzstan
Activity Type:
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Academy of Public Administration under the aegis of the President of the Republic of Belarus
Address:
Moskovskaya Str., 17 220007 Minsk
🇧🇾 Belarus
Activity Type:
Higher or Secondary Education Establishments
JAHON OITISODIYOTI VA DIPLOMATIVA UNIVERSITETI
Address:
Mustakillik 54 100077 Tashkent
🇺🇿 Uzbekistan
Activity Type:
Higher or Secondary Education Establishments
KIMEP UNIVERSITY JSC
Address:
Abai Ave 4 050010 Almaty
🇰🇿 Kazakhstan
Activity Type:
Higher or Secondary Education Establishments